Tesco commits to double-digit wage rises in 2017

The press release says that Tesco-Global Áruházak Zrt. has raised the wages of some 13,700 employees this year by an average of 12.4%, the second year running it has effected a double-digit hike.

The company says that both its long-term goal and the main tendency of its wage development policy are the same: to remain among the top three best-paying retail supermarket chains in terms of its wage package as a whole, while concentrating on raising the wages of the lowest earners among its workforce in particular. 

In the past two years, Tesco has spent HUF 7.4 billion on wage hikes in Hungary, the press release claims. It notes that while retail sales volume increased last year by 4-5%, wages expanded by several times this figure. 

Tesco claims that each year it determines wages based on clear-cut guiding principles. Given its commitment to sustainable and successful operation in the region, and within this Hungary, it indicated that these principles depend on the performance of the Central European market. The company said it is working on developing a pay matrix that reflects the complexity of its positions, and noted that it also takes into account varying conditions on labor markets across the region.